922 loans for Dummies
associated with prepayment of loans were being established out to be a Be aware underneath segment 936 of this title and have been repealed by(b) A receiver who sets aside resources underneath subsection (a) of the segment might use the resources only in a location that's not becoming presented Along with the least suitable level of broadband service set up less than area 950bb(e) of this title, Except if the recipient meets the necessities of area 950bb(d) of the title.
A lender shall not receive a assurance below this portion for the bond or Be aware if, at enough time from the promise, the total principal number of this sort of certain bonds or notes excellent on the lender would exceed the principal degree of fantastic loans of your lender for eligible needs explained in subsection (a)(one).
From the quantities furnished to an qualified entity below a grant under the Program, the eligible entity shall use to execute paragraph (one)(B) not better as opposed to lesser of—
(A) Harmonize broadband notification and reporting prerequisites and acquire popular verification strategies across all federally supported broadband packages.
(four) The Secretary shall undertake all acceptable endeavours to allow the full quantity of deferments approved by this subsection through Each individual fiscal year.
Govt-imposed costs connected with emergency communications (together with Condition or neighborhood 911 fees) may very well be thought of as protection to get a personal loan beneath this segment.
Amounts in Each and every cushion of credit score account shall accrue fascination on the borrower in a price of 5 per cent for each annum.
The Secretary of Agriculture (referred to Within this chapter since the "Secretary") is approved and empowered to generate loans, or refinance loans made or assured from the Secretary below this chapter, while in the many States and Territories of The usa for rural electrification and for the goal of furnishing and improving electric and telephone support in rural regions, as furnished During this chapter, and for the get more info goal of aiding electrical borrowers to implement desire aspect administration, Electrical power efficiency and conservation systems, and on-grid and off-grid renewable Strength systems.
The Secretary may have to have any further reporting and knowledge by any recipient of any broadband support less than this chapter so as to be certain compliance with this particular part.
As well as other authority under relevant law, the Secretary shall build prepared processes for all broadband programs so that, to the utmost extent practicable, the applications are administered to—
, That the Secretary, in making these types of loans, shall give choice to persons giving telephone company in rural parts, to public bodies now furnishing telephone company in rural regions, and to cooperative, nonprofit, minimal dividend, or mutual associations. The Secretary in producing such loans shall, insofar as is possible, get assurance that the phone services being furnished or improved therefore are going to be created accessible to the widest sensible amount of rural users. When it is set from the Secretary to get necessary in an effort to furnish or make improvements to telephone support in rural parts, such loans could be designed for the advance, expansion, construction, acquisition, and operation of telephone lines, facilities, or programs devoid of regard to their geographical locale.
"(1) building present day telecommunications technological innovation and products and services available in rural locations in the United States promotes financial enhancement and increases the Standard of living in rural regions; and
(3) be the lead to, straight or indirectly, of imposing any prerequisite or restriction on the borrower being a condition in the aid, except these kinds of prerequisites or limitations as are required to carry out a debt restructuring agreed on by the power provide borrower and the Government.